Policy · Education & Skilling

NCLT stays BYJU’S insolvency bidding process until August 31

By Startup Enthusiast · 23 July 2026

What they do

BYJU’S parent company Think & Learn Pvt Ltd is an edtech firm offering K-12 learning products and services

The NCLT has paused the insolvency bidding process until August 31, pending a court hearing on a ₹11,433 Cr claim by US lenders

The company owes ₹158 Cr to BCCI under a sponsorship agreement, and the insolvency process is ongoing under the IBC

NCLT has stayed the insolvency bidding process of BYJU’S parent company Think & Learn Pvt Ltd until August 31.
Form G will not be issued, preventing the determination of potential bidders until further orders.
Byju Raveendran and Riju Raveendran challenged the admission of a ₹11,433 Cr claim by the trustee for US term loan lenders.
NCLT ordered the bidding process to remain on hold until the matter is heard in court.
BYJU’S owes ₹158 Cr to BCCI under a sponsorship agreement, and the settlement requires approval via the insolvency process.
Insolvency and Bankruptcy Code (IBC) applies to the company, which is already under insolvency proceedings.
Legal teams of Aakash Educational Services and the insolvency resolution professional (IRP) were close to reaching a settlement.
Term Loan B (TLB) lenders are in advanced talks to acquire a 30% stake in Aakash Educational Services at a valuation of about $2 Bn.
Settlement could see lenders dropping all legal actions against the company and its founder in exchange for Aakash’s stake.
Byju Raveendran faces a six-month civil contempt sentence in Singapore, which was not extended pending appeal.

NCLT has not halted the insolvency proceedings but has paused the bidding process due to a legal challenge.
Legal dispute involves multiple stakeholders, including founders, US lenders, and financial creditors across multiple jurisdictions.
Settlement with Aakash Educational Services could resolve the legal battle and allow the insolvency process to proceed.
BYJU’S is under significant legal and financial pressure, with ongoing disputes over claims and potential stake acquisitions.
Singapore court declined to extend the stay on Byju Raveendran’s sentence, adding to the legal challenges faced by the company.

BYJU’S is an edtech company offering K-12 learning products and services, including digital content, assessments, and personalized learning tools.
Company operates in India and has a large user base, primarily targeting students and educators.
Revenue is generated through subscription fees, advertising, and partnerships with schools and educational institutions.
Company has faced financial difficulties, leading to insolvency proceedings and legal disputes over debts.
Founders Byju and Riju Raveendran co-founded the company, which has grown significantly over the years.

Settlement with Aakash Educational Services could allow the insolvency process to proceed.
Legal teams of Aakash Educational Services and the insolvency resolution professional (IRP) are close to reaching a settlement.
NCLT will hear the matter on August 31, after which the bidding process may resume.

GLAS Trust (US term loan lenders) — Representing US lenders in the insolvency proceedings.
Aakash Educational Services (potential stake acquisition) — In advanced talks to acquire a 30% stake at a valuation of $2 Bn.